"Hidden in the Fine Print: Trump's Tax Provision Hits Gamblers Hard A little-noticed provision in the sweeping tax overhaul signed into law by President Trump is set to have a significant impact on the nation's gamblers. Tucked away in the bill's dense language is a clause that severely limits the ability of individuals to deduct their losses from their winnings, effectively increasing their tax liability. This move is expected to affect millions of Americans who engage in some form of gambling, from high-stakes poker players to casual sports bettors. As the tax filing season approaches, many are left wondering how this provision will affect their bottom line and what it means for the future of gaming in the United States."
Thanks to a provision buried among the hundreds of pages of the Trump's Big Beautiful Bill is a tax provision that limits gamblers' ability to offset their losing bets.
